Frequently Asked Questions

A 203(k) consultant is a professional who assists homeowners and buyers in navigating the 203(k) loan process, which is a type of FHA loan designed for purchasing and renovating properties. These consultants play a crucial role by providing expertise in assessing the property's condition, estimating renovation costs, and ensuring that the proposed work meets FHA standards.

Key responsibilities of a 203(k) consultant include:

1. Property Evaluation: Inspecting the property to identify necessary repairs and improvements.
2. Cost Estimates: Preparing detailed cost estimates for the proposed renovations.
3. Project Management: Helping homeowners plan and manage the renovation process, ensuring it aligns with the loan requirements.

The initial inspection fee is based on the value of the constuction cost; it can range from $400 - $1,000. Each draw request inspection is $350.

Yes.  HUD does not license general/home improvement contractors. Please ensure the Home Improvment Contractor is current with their license, state registration(s) and insurance(s).  

No. All construction work must be contracted through a license general/home improvement contractor.